§ 19. Mr. J. Griffithsasked the Minister of Fuel and Power the profits made in the coal industry, as revealed by the ascertainments, for the periods 1936 to 1939 and 1940 to 1944, respectively.
Major Lloyd GeorģAs the answer involves a tabular statement, I will, with the hon. Member's consent, circulate it in the Official Report.
§ Mr. ShinwellIt has often been declared by the mine owners that their profits are not considerable, and, in fact, that quite the contrary is the case. Where is all the money to be found for re-equipping the mines of this country, on the basis of the Reid Report?
Major Lloyd GeorģOn the basis of the Reid Report, which counts on getting something like double the output per man-shift that is got to-day, that would make it possible to re-equip them.
§ Mr. ShinwellI have not asked about revenue on the basis of production; I have asked, in view of the allegation of the mine owners that they are not making large profits, where the money is to be found for capital re-equipment?
Major Lloyd GeorģI have answered the question. If you can make the proposition sufficiently attractive by reducing the cost of production, it will be possible to get people to invest money.
Major Lloyd GeorģIt is very difficult to say that. The Reid Report suggests that until a detailed investigation has been made of the whole project, it is not possible to give a figure.
§ Mr. Georģe GriffithsBut the Government have accepted the Reid Report.
§ Following is the answer:
§ The credit balances revealed by ascertainments, have been published in detail from time to time; the averages for Great Britain have been as follows:
| — | Tonnage disposed of commercially | Average credit balance per ton. | |||
| s. | d. | ||||
| 1936 | … | … | 212,000,000 | 0 | 11¼ |
| 1937 | … | … | 224,000,000 | 1 | 2¾ |
| 1938 | … | … | 210,300,000 | 1 | 4 |
| 1939 | … | … | 214,600,000 | 1 | 7½ |
| 1940 | … | … | 207,200,000 | 1 | 7 |
| 1941 | … | … | 189,600,000 | 1 | 9¼ |
| 1942 | … | … | 186,900,000 | 1 | 6 |
| 1943 | … | … | 178,400,000 | 1 | 6 |
| 1944 | … | … | 168,300,000 | 1 | 6¼ |
§ The credit balances for 1942 and 1943 were made up to the guaranteed minimum of is. 6d. per ton by payments out of the Coal Charges Account.